Onboard Tbtc














Onboard Tbtc







Author

ACI

Creator

0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922

Simple Summary

The proposal aims to onboard Threshold Network’s tBTC, to the Aave v3 protocol on Ethereum.

Motivation

tBTC is Threshold’s decentralized and permissionless bridge to bring BTC to the Ethereum network. tBTC has been designed to allow Bitcoin holders to participate in Ethereum’s Decentralized Finance (DeFi) applications. Users wishing to utilize their Bitcoin on Ethereum can use the tBTC decentralized bridge to deposit their Bitcoin into the system and get a minted tBTC token in their Ethereum wallet.

tBTC was created by a decentralized effort of contributors at the Threshold Network DAO, and extensively utilizes the Threshold Network’s threshold cryptography to create a secure BTC asset. tBTC is a product launched on Threshold Network, on which many other decentralized applications are being built.

Specification

The table below illustrates the configured risk parameters for tBTC

ParameterValue
Isolation Modefalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (tBTC)550
Borrow Cap (tBTC)275
Debt CeilingUSD 0
LTV73 %
LT78 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor20 %
Base Variable Borrow Rate0 %
Variable Slope 14 %
Variable Slope 2300 %
Uoptimal45 %
Stable BorrowingDISABLED
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c

References

Copyright

Copyright and related rights waived via CC0.

by BGD Labs